$HWNI

Mantra Venture Group Ltd.

CIK:0001413891|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Revenue
Operating expenses :
Salaries and wages	8,075	263,561	26,946	679,805
General and administrative	10,644	81,675	169,821	465,847
Total operating expenses	18,719	345,236	196,767	1,145,652
Loss from operations	(18,719)	(345,236)	(196,767)	(1,145,652)
Other income (expense):
Interest expense	(305,701)	(50,195)	(887,771)	(1,037,268)
Amortization of debt discounts	(25,913)	(66,907)	(856,244)	(923,717)
Warrant expense				(233,877)
Gain on change in fair value of warrant liabilities	3,200	4,880	79,987	234,673
Loss on settlement of debt		(334,344)		(334,344)
Gain on extinguishment of warrant liabilities				921,422
Termination and penalty fee			(410,571)	(100,000)
Other (expense) income		(50,000)		(50,000)
Total other (expense)	(328,414)	(496,566)	(2,074,599)	(1,523,111)
Net loss from continuing operations before income taxes	(347,133)	(841,802)	(2,271,366)	(2,668,763)
Provision for income taxes
Net loss from continuing operations	(347,133)	(841,802)	(2,271,366)	(2,668,763)
Net (loss) income from discontinued operations, net of tax	(532,860)	(828,637)	(3,065,507)	4,682,821
Net (loss) income attributable to High Wire Networks, Inc. common shareholders	$ (879,993)	$ (1,670,439)	$ (5,336,873)	$ 2,014,058
Income (loss) per share attributable to High Wire Networks, Inc. common shareholders, basic:
Net loss from continuing operations (in Dollars per share)	$ (0.31)	$ (0.87)	$ (2.23)	$ (2.77)
Net income (loss) from discontinued operations, net of taxes (in Dollars per share)	(0.48)	(0.86)	(3.01)	4.86
Net income (loss) per share (in Dollars per share)	(0.79)	(1.73)	(5.25)	2.09
Income (loss) per share attributable to High Wire Networks, Inc. common shareholders, diluted:
Net loss from continuing operations (in Dollars per share)	(0.31)	(0.87)	(2.23)	(2.49)
Net income (loss) from discontinued operations, net of taxes (in Dollars per share)	(0.48)	(0.86)	(3.01)	4.37
Net income (loss) per share (in Dollars per share)	$ (0.79)	$ (1.73)	$ (5.25)	$ 1.88
Weighted average common shares outstanding Basic (in Shares)	1,119,665	963,650	1,017,209	962,765
Diluted (in Shares)	1,119,665	963,650	1,017,209	1,072,250

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net loss from continuing operations	$ (2,271,366)	$ (2,668,763)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:
Amortization of debt discounts	856,244	923,717
Default penalty on convertible note	240,970
Depreciation and amortization
Amortization of operating lease right-of-use assets	80,930	77,279
Stock-based compensation related to stock options	26,947	639,806
Stock-based compensation related to employee stock issuance		40,000
Gain on change in fair value of warrant liabilities	(79,987)	(234,673)
Issuance of common stock pursuant to equity line of credit	260,571
Warrant expense		233,877
Penalty fee		100,000
Loss on settlement of debt		334,344
Gain on extinguishment of warrant liabilities		(921,422)
Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses and other current assets	1,400
Accounts payable and accrued liabilities	1,460,622	(866,507)
Contract liabilities
Operating lease liabilities	(81,816)	(74,028)
Net cash provided by (used in) operating activities of continuing operations	494,515	(2,416,370)
Net cash provided by (used in) operating activities of discontinued operations	(1,781,036)	(3,197,152)
Net cash used in operating activities	(1,286,521)	(5,613,522)
Cash received from sale of technology services business unit		9,780,307
Net cash (used in) provided by investing activities of continuing operations		9,780,307
Net cash (used in) provided by investing activitie of discontinued operations		(13,192)
Net cash (used in) provided by investing activities		9,767,115
Cash flows from financing activities:
Proceeds from loans payable to related parties	342,000
Repayments of loans payable to related parties	(250,000)	(101,601)
Proceeds from loans payable	797,869	2,676,047
Repayments of loans payable	(753,348)	(3,821,582)
Proceeds from convertible debentures	910,000	431,150
Repayments of convertible debentures		(1,975,951)
Proceeds from factor financing		6,673,090
Repayments of factor financing		(8,034,746)
Proceeds from issue of Series G preferred stock	240,000
Net cash (used in) provided by financing activities of continuing operations	1,286,521	(4,153,593)
Net cash used in financing activities of discontinued operations
Net cash (used in) provided by financing activities	1,286,521	(4,153,593)
Net change in cash
Cash, beginning of period
Cash, end of period
Supplemental disclosures of cash flow information:
Cash paid for interest	252,890	1,193,002
Cash paid for income taxes
Non-cash investing and financing activities:
Original issue discounts on loans payable and convertible debentures	742,052	58,520
Issuance of Series E preferred stock in connection with debt	427,531
Issuance of common stock and warrants upon issuance of debt		56,286
Issuance of common stock to employee		40,000
Assets disposition	5,124,468
Liabilities disposition	4,038,852
Investment in preferred stock in exchange of disposition of assets and liabilities	$ 1,120,000

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash
Prepaid expenses and other current assets	14,865	16,265
Current assets of discontinued operations		1,247,480
Total current assets	14,865	1,263,745
Investment in equity securities	1,120,000
Operating lease right-of-use assets	93,435	174,365
Non-current assets of discontinued operations		4,348,661
Total assets	1,228,300	5,786,771
Current liabilities:
Accounts payable and accrued liabilities	3,847,199	2,710,682
Current portion of loans payable, net of debt discount of $3,810 and $40,739, respectively	1,242,673	926,475
Warrant liabilities	533	80,520
Operating lease liabilities, current portion	98,134	110,856
Current liabilities of discontinued operations	505,782	2,463,429
Total current liabilities	7,402,284	7,488,711
Loans payable, net of current portion		78,125
Operating lease liabilities, net of current portion		69,094
Total liabilities	7,402,284	7,635,930
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit):
Common stock; $0.00001 par value; 1,000,000,000 shares authorized; 1,119,665 and 970,319 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	11	10
Additional paid-in capital	33,478,098	32,466,050
Accumulated deficit	(52,267,170)	(46,930,296)
Total stockholders’ equity (deficit)	(6,173,984)	(1,849,159)
Total liabilities and stockholders’ equity (deficit)	1,228,300	5,786,771
Convertible Debt
Current liabilities:
Current portion of convertible debentures, net of debt discount of $0 and $58,459, respectively	1,230,620	838,192
Related Party
Current liabilities:
Current portion of loans payable to related parties	477,343	358,557
Series D Preferred Stock
Stockholders’ equity (deficit):
Preferred stock value	7,745,643	7,745,643
Series E Preferred Stock
Stockholders’ equity (deficit):
Preferred stock value	4,869,434	4,869,434
Series F Preferred Stock
Stockholders’ equity (deficit):
Preferred stock value
Series G Preferred Stock
Stockholders’ equity (deficit):
Preferred stock value